MUNICH (Reuters) - The downward trend in German business morale has ended, above all thanks to strength in the domestic economy, Ifo institute economist Klaus Wohlrabe said on Friday.
Ifo’s business sentiment survey was unchanged in May after falling for five straight months.
“The downward trend has stopped,” Wohlrabe told Reuters. “Above all, strength in the domestic economy contributed to the stabilisation of the economy ... The global economic environment is difficult, but the German economy is holding its ground.”
Reporting by Alexander Huebner; Writing by Paul Carrel; Editing by Michelle Martin